The previous analysis on $BNB identified two liquidity sweeps at $685 and $689, a rejection from the pink supply zone between $676 and $678, and a projected path toward $651.76 as the final target. Every piece of that sequence has confirmed.

Both LQS levels were swept cleanly before the reversal. The pink supply zone between $676 and $678.69 did exactly what unmitigated supply zones do — rejected price on the first retest without hesitation. The blue projection window drawn on the chart outlined the expected path and price has been following it with precision on the 4-hour timeframe.

TP1 around $657 has been tagged. Current price at $661.19 is sitting inside the projected move window with the final target at $651.76 still ahead. That level aligns with the prior consolidation structure from early May and represents the logical endpoint for this distribution sequence before any meaningful demand steps in.

The structure hasn't broken. Nothing about the current price action suggests the target gets skipped. Price is grinding lower in an orderly fashion, which is exactly the kind of controlled selling that reaches its destination without a sharp reversal interrupting the move.

Two confirmations in. One target remaining. $651.76 is the number to watch on the next leg down.